Foreigners' net stock selling continues for 4th month in May

The Korea Times

The Korea Times

Finance

Sun, October 1, 2023 | 16:47

Markets

Foreigners' net stock selling continues for 4th month in May

Posted : 2022-06-09 14:04

Updated : 2022-06-09 18:09

A currency trader walks by screens showing the Korean Securities Dealers Automated Quotations (KOSDAQ), center, and the foreign exchange rates at a foreign exchange dealing room in Seoul, June 8. AP-Yonhap

Foreigners withdrew more money than they injected into Korea's stock markets for the fourth straight month in May amid worries over economic slowdowns in major countries and the fallout from the ongoing war in Ukraine, central bank data showed Thursday.

Net foreign money outflows from the main KOSPI and secondary tech-heavy KOSDAQ markets, came to $1.29 billion last month, according to the data from the Bank of Korea (BOK).

This represented the fourth straight month that foreigners had pulled out more money than they parked in local equities. But the figure was much smaller than the previous month's net outflow of $4.26 billion.

Korea's stock markets have been weighed down by worries over tightening monetary policy in advanced countries and corresponding economic slowdowns.

Market woes have also been amplified by the protracted war in Ukraine, which has propelled oil and key commodity prices even higher and added to inflation woes. (Yonhap)

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